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400 down payments : 1200 = 1 down payment : 3 payments or 1/3 dp : 1 payment
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∙ 10y ago
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Which of the Jim made a 400 down payment on a washer and dryer that cost a total of 1200what is the ratio of the amount paid to the amount owed?
1200-400 equals the amount owed which is 800 dollar. Therefore initial ratio of the amount paid to the amount owed is 400:800 which reduces to 4:8 and then further down to 1:2.
How do you use a mortgage calculator to figure your necessary down payment?
A mortgage calculator will allow you to put in the amount that you wish to borrow from the bank along with the interest. It will then tell you the monthly payment. The monthly payment will adjust as you increase or decrease the amount of the down payment.
With 1200 dollars to help pay off mortgage which would be quicker pay 1200 dollar towards principle payment once a year or equal amounts of the 1200 dollars added to the principle payment every month?
The earlier you pay down the principal, the shorter the loan, and shorter is cheaper unless there are pre-payment penalties (the bankers have children to feed as well).
When is mortgage considered high ratio in Canada 20 or 25?
A mortgage with less than 20% down payment is considered high ratio.
What type of purchases require a down payment?
Several purchases require a down payment. Some examples are houses, cars and boats. The amount of the down payment is negotiated between the buyer and the seller of the purchase.
What is a down payment with regard to buying a house?
3.5% of Loan amount
What is the installment price minus the down payment equal to?
amount financed
How helpful is a mortgage calculator for estimating a down payment?
The calculator lets you plug in various down payment amonuts to see what your monthly payments will be. This will allow you to determine the proper amount for a down payment, and the peace of mind to know that you can afford the monthly payment.
How do you know how to calculate car loan after you have made the first down payment?
It will depend on the terms you have with the dealer. If all of the down payment is going to principal on your car then you would subtract that amount and that would be the amount left on your loan. If only a percent is applied to the amount then subtract that percent from the amount.
How are installment loans are calculated?
amount finaced=cash price - down payment
What does a down payment really mean, and how does it work?
A down payment is a portion of a home's selling price which must be paid up-front, in cash, separate from the amount you'll be receiving as a down payment loan. The down payment can be almost any amount, although typically they range between 5%-20% of the home's total value. The purpose of a down payment is primarily to provide security to the seller and to the lender. If someone puts down a substantial amount of money up-front, they're less likely to default on the loan - which is costly for everyone involved. Also, the down payment demonstrates a basic ability to pay, reassuring the seller. For more information and to learn more about down payment loans and solutions, please contact Home Savings Fund today.
Does the down payment for a house take money off the loan from the bank?
No, the "down payment" is made directly from the buyer to the seller and is on top of the amount loaned by the bank to complete the purchase price. In a sense, the larger the down payment the smaller the loan that will be needed, so it would "take money off the AMOUNT of the loan", but not have any impact on the repayment of the loaned amount. For instance, if my down payment is 90 percent of the purchase price, the loan only needs to cover the remaining 10 percent.
